Order tech platform Deliverect raises $150m

Order technology platform Deliverect has raised over $150 million in a Series D funding round.

The funding round, which was led by investment firms Coatue and Alkeon Capital, gave the company a valuation of $1.4 billion.

Founded in 2018, Deliverect’s Software-as-a-Service (SaaS) platform automates restaurants’ online order flow, taking delivery, table app or takeout requests.

Existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion, and Smartfin also participated in the round, which brings Deliverect’s total funding raised to date to $240 million.

The Belgium-based start-up said its clients include Pret A Manger, KFC, Five Guys, Kentucky Fried Chicken (KFC), Chipotle, Time Out Market, Five Guys, Taco Bell, Le Pain Quotidien, and Outback.

Deliverect said it will invest this latest funding round into engineering and technology advancements, and into expanding its product portfolio and scaling. The company said it will also launch a dedicated app store.

“As digitisation becomes more and more popular, we’ve seen how much not only restaurants but grocery and convenience stores need streamlined online ordering to meet customer satisfaction, especially among Millennials and Generation Z shoppers,” said Zhong Xu, Deliverect co-founder and chief executive. “This funding will advance our efforts to serve everyone in the hospitality community through our app store and beyond.”

He added: “We’re thrilled for Deliverect’s next phase as the leader in online order automation, especially as so many people prefer the convenience of ready-to-eat food delivery today.”

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